Ironwood Pharmaceuticals (NASDAQ:IRWD) Upgraded at StockNews.com

Posted by on Jun 20th, 2023

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

Separately, Piper Sandler upped their price objective on shares of Ironwood Pharmaceuticals from $16.00 to $19.00 in a report on Tuesday, May 23rd.

Ironwood Pharmaceuticals Stock Down 0.5 %

Shares of IRWD opened at $10.98 on Tuesday. The stock has a market capitalization of $1.71 billion, a P/E ratio of 10.87 and a beta of 0.95. The firm has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $11.18. Ironwood Pharmaceuticals has a twelve month low of $9.73 and a twelve month high of $12.66.

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Ironwood Pharmaceuticals had a net margin of 43.63% and a return on equity of 29.40%. The business had revenue of $104.06 million during the quarter, compared to analyst estimates of $100.60 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts expect that Ironwood Pharmaceuticals will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 46,129 shares of the firm’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $10.67, for a total transaction of $492,196.43. Following the completion of the sale, the chief executive officer now directly owns 842,064 shares in the company, valued at approximately $8,984,822.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas A. Mccourt sold 46,129 shares of the firm’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $10.67, for a total transaction of $492,196.43. Following the sale, the chief executive officer now owns 842,064 shares of the company’s stock, valued at approximately $8,984,822.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas A. Mccourt sold 26,632 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $10.70, for a total transaction of $284,962.40. Following the sale, the chief executive officer now directly owns 758,284 shares in the company, valued at approximately $8,113,638.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,909 shares of company stock worth $1,001,751. 13.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in IRWD. Raymond James & Associates boosted its holdings in shares of Ironwood Pharmaceuticals by 11.1% in the first quarter. Raymond James & Associates now owns 24,117 shares of the biotechnology company’s stock worth $303,000 after buying an additional 2,418 shares during the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 8.8% in the first quarter. Cetera Advisor Networks LLC now owns 11,021 shares of the biotechnology company’s stock worth $139,000 after buying an additional 893 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Ironwood Pharmaceuticals by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 41,253 shares of the biotechnology company’s stock worth $518,000 after buying an additional 2,402 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 55.5% in the first quarter. MetLife Investment Management LLC now owns 79,249 shares of the biotechnology company’s stock worth $997,000 after buying an additional 28,288 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Ironwood Pharmaceuticals by 4.0% in the first quarter. Rhumbline Advisers now owns 164,608 shares of the biotechnology company’s stock worth $2,071,000 after buying an additional 6,277 shares during the last quarter.

Ironwood Pharmaceuticals Company Profile

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Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, and China, as well as under the CONSTELLA name in the Canada and European countries.

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